2005-12-29 / Business & Finance

Dull Job Market Expected For City

New York City area employers’ expect to hire at a weak pace during the first quarter of 2006, according to the Manpower Employment Outlook Survey. From January to March, 7% of the companies interviewed plan to hire more employees, while 12% expect to reduce their payrolls, according to Manpower spokesperson Paula Zimm-erman. Another 81% expect to maintain their current staff levels.

“The New York City area employment outlook is softer than the fourth quarter forecast when 17% of the companies interviewed predicted an increase in hiring activity, and 10% planned to decrease the hiring pace,” said Zimmerman.

“A year ago at this time, employers revealed more positive hiring intentions when 12% of companies surveyed thought employment increases were likely and 9% intended to cut back,” said Zimmerman.

For the coming quarter, job pros-pects appear best in Durable Goods Manufacturing, Education and Public Administration. Employers in Con-struction, Non-Durable Goods Manu-facturing, Transportation/ Public Util-ities and Wholesale/Retail Trade plan to reduce staffing levels, while those in Finance/Insurance/Real Estate and Services voice mixed hiring intentions.

The national results of the Man-power Employment Outlook Survey reveal that U.S. employers plan to carry over their hiring sentiments in to 2006. This rounds out two consectuive years of consistent job prospects.

Of the 16,000 employers that were surveyed, 23% anticipate an increase in hiring activity for the first quarter of 2006, while 10 percent expect to decrease staff levels. Sixty-one percent of employers surveyed foresee no change in hiring plans, while 6% are unsure of their staffing needs. The seasonally adjusted

Net Employment Outlook for the first three months of the year is 20%, identical to the fourth quarter of 2005 and nearly the same as a year ago.

The Manpower Employ-ment Outlook Survey is conducted quarterly to measure employers’ intention to encrease or decrease the number of employees in their workforce during the next quarter.

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